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Reflecting on a year of growth and resilience
As the year draws to a close, we reflect on the dynamic landscape that defined the mortgage industry in 2023. Amidst ongoing economic uncertainties, the year brought its share of obstacles and opportunities. Market volatility, shifting regulations, and evolving borrower needs shaped the terrain we treaded together. Despite the challenges, innovation and collaboration emerged as…
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US Interest Rate Outlook
Over the past two years, the Federal Reserve has increased the federal funds rate in an effort to stabilize prices. At its December 12-13 meeting, the Fed is expected to maintain its policy rate within the range of 5.25% to 5.5%. Currently, the Fed is facing a delicate balance between two risks: if they move…
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CMI Housing Affordability Watch: Why Filtering is Key to Increasing the Supply of Affordable Housing
CMI monitors the latest developments and offers insights on solutions to Canada’s housing affordability crisis Filtering refers to the decline in quality and price of properties over time, essentially explaining how housing units become more affordable as they age. Through this mechanism, new construction will tend to be occupied by higher-income groups at first, but…
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Bank of Canada Expected to Remain on the Sidelines
Two key data releases last week support the view that the Bank of Canada is done raising rates. Unemployment numbers creep up In November, despite the decent increase in the number of jobs being created, the unemployment rate increased by 0.1% to 5.8%. With tight monetary conditions, the economy is unable to generate enough jobs…
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CMI Housing Affordability Watch: What Analysts Missed in the Fall Economic Update
CMI monitors the latest developments and offers insights on solutions to Canada’s housing affordability crisis In the wake of the federal government’s Fall Economic Statement, released on November 21, expert and media analysis has focused primarily on future government housing spending. However, there are a few other items that warrant a closer look. CMHC losing…
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CMI Housing Affordability Watch: Show Me the Money – Navigating Financing Challenges for Missing Middle Housing Projects
CMI monitors the latest developments and offers insights on solutions to Canada’s housing affordability crisis In the late 1970s and 1980s, we saw a continuous decline in purpose-built rental units in Ontario and, to a lesser extent, across the country. However, rental units continued to enter the market in a different form – through the…
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